VALENCIA, Calif.--(BUSINESS WIRE)--Wesco Aircraft Holdings, Inc. (“Wesco” or the “Company”) (NYSE: WAIR), a
leading provider of comprehensive supply chain management services to
the global aerospace industry, today announced that it has entered into
an agreement to acquire Haas Group Inc. (“Haas”) for $550 million in
cash, subject to certain closing adjustments, from certain investment
funds affiliated with The Jordan Company, L.P.

With $573.5 million in 2012 revenues, Haas is a leading global provider
of chemical supply chain management (“CSCM”) solutions to the commercial
aerospace, airline, military, energy, and other markets. Haas is
headquartered in West Chester, PA, with over 1,300 employees and 35
distribution hubs and forward stocking locations around the world.

Wesco’s strategic rationale for the acquisition includes:

Acquisition of a leader in the large and growing area of CSCM, with an
addressable market currently estimated at more than $2 billion

Haas’ proprietary IT system (tcmIS) that interfaces directly with
customer and supplier enterprise resource planning systems

Significant expansion of Wesco’s customer base; many opportunities to
increase sales by leveraging and cross–selling into each company’s
respective base of customers

Addition of more than 125,000 SKUs from over 5,000 suppliers

Experienced senior management team with a proven record of success;
business will continue to be led by the current CEO, Thad Fortin

Randy Snyder, Chairman and CEO of Wesco said, “We are very excited about
this opportunity to bring Haas and its outstanding employees into the
Wesco family. We believe that the acquisition of Haas will provide
significant opportunities for Wesco to continue growing at above-market
rates. The culture, capabilities, and scope of Haas’ global business are
an ideal fit for the Company. The acquisition of Haas will add over
125,000 SKUs, value added supply chain management solutions and a world
class group of over 1,300 employees to Wesco.”

Thad Fortin, CEO of Haas added, “We are excited to be working with a
company with the reputation and proven performance of Wesco, and for the
many opportunities this combination will bring for Haas employees. We
believe this combination will further strengthen the value proposition
for our customers, and we look forward to contributing to Wesco’s
continued growth and success.”

The acquisition is expected to be financed by a new $525 million term
loan B facility (“Term Loan B”) to be added to the Company’s existing
senior secured credit facilities, cash on hand and drawings under the
Company’s existing revolving credit facility, with the Term Loan B
expected to be provided by a group of lenders led by BofA Merrill Lynch.
Wesco expects the acquisition, which has been unanimously approved by
the boards of directors of Wesco and Haas, to close by the end of the
first calendar quarter of 2014, subject to customary closing conditions.

The Company plans to provide additional information regarding the
acquisition at the time of its upcoming fiscal first quarter 2014
earnings call to be held on Wednesday, February 5, 2014 at 5:00 pm ET.

Evercore is acting as financial advisor and Latham & Watkins LLP is
serving as legal advisor to Wesco. Harris Williams & Co. is acting as
financial advisor and Mayer Brown LLP is serving as legal advisor to The
Jordan Company.

Preliminary Results for the First Fiscal Quarter of 2014

In advance of the earnings call scheduled for February 5, 2014, the
Company is also providing preliminary estimates of its results for the
first fiscal quarter of 2014. Revenues for the quarter are expected to
be between $223 to $227 million, an increase of between 5.6% to 7.5%
compared to the prior year period. Diluted EPS is expected to be between
$0.24 to $0.26, compared to $0.19 in the prior year period, with
Adjusted Diluted EPS between $0.26 to $0.28, compared to $0.25 in the
prior year period.

Greg Hann, Chief Financial Officer of Wesco said, “We continued to
experience strong organic revenue growth, despite one less workday for
Wesco during the quarter compared to the prior year. In addition, we
experienced unexpected prolonged holiday shutdowns and vacations by a
number of our top customers. We estimate that the combination of these
factors led to a reduction of approximately $0.02 to our Adjusted
Diluted EPS for the quarter. We expect to recover these earnings over
the course of the coming months.”

He continued, “At this time we are reiterating our original guidance for
revenues of between $975 million to $1.01 billion, and Adjusted Diluted
EPS of between $1.31 to $1.37 for this fiscal year. We expect the
acquisition of Haas to be accretive upon closing to our Adjusted Diluted
EPS, and plan to update our full year guidance to reflect the
acquisition after the transaction closes.”

Additional information related to Wesco’s first quarter performance will
be provided in the Company’s earnings release, which will be issued
after market close on February 5, 2014.

Wesco is one of the world’s largest distributors and providers of
comprehensive supply chain management services to the global aerospace
industry. The Company’s services range from traditional distribution to
the management of supplier relationships, quality assurance, kitting,
just-in-time delivery and point-of-use inventory management. The Company
believes it offers one of the world’s broadest inventories of aerospace
parts, comprised of more than 525,000 different stock keeping units,
including hardware, bearings, tools, electronic components and machined
parts. Wesco has more than 1,300 employees across 43 locations in 13
countries.

About Haas Group Inc.

Haas Group Inc. is a leading global provider of CSCM solutions to the
commercial aerospace, airline, military, energy, and other markets.
Haas’ services include sourcing and procurement, inspection and quality
assurance, warehousing and inventory management and process control and
usage management. Haas offers a broad array of products, including over
125,000 different stock keeping units and 90,000 unique chemicals from
over 5,000 suppliers. Haas is headquartered in West Chester, PA, with
over 1,300 employees and 35 distribution hubs and forward stocking
locations around the world.

Forward Looking Statements

This communication contains forward-looking statements (including within
the meaning of the Private Securities Litigation Reform Act of 1995)
concerning Wesco, Haas, the proposed acquisition and other matters.
These statements may discuss goals, intentions and expectations as to
future plans, trends, events, results of operations or financial
condition, or otherwise, based on current beliefs of the management of
Wesco and Haas, as well as assumptions made by, and information
currently available to, such management. Forward-looking statements may
be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,”
“could,” “would,” “should,” “estimate,” “expect,” “forecast,” “future,”
“guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,”
“project” or similar words, phrases or expressions. These
forward-looking statements are subject to various risks and
uncertainties, many of which are outside the parties’ control.
Therefore, you should not place undue reliance on such statements.

Factors that could cause actual results to differ materially from those
in the forward-looking statements include: failure to obtain applicable
regulatory approvals in a timely manner or otherwise; failure to satisfy
other closing conditions to the proposed acquisition; risks that the
businesses will not be integrated successfully or that the combined
companies will not realize estimated cost savings, synergies and growth
or that such benefits may take longer to realize than expected; failure
to realize anticipated benefits of the combined operations; risks
relating to unanticipated costs of integration; changes in legislation
or governmental regulations affecting the companies; international,
national or local economic, social or political conditions that could
adversely affect the companies or their customers; conditions in the
credit markets; risks associated with assumptions the parties make in
connection with the parties’ critical accounting estimates and legal
proceedings; the condition of the aerospace industry; reductions in
military spending; business risks as a result of supplying equipment and
services to the U.S. Government; risks associated with the Company’s
long-term, fixed-price agreements, which have no guarantee of future
sales volume; risks associated with the loss of a significant customer;
the Company’s failure to compete successfully in its highly competitive
global industry; risks associated with the Company’s rapid expansion;
supply-chain risk; the Company’s dependence on complex information
technology; and the Company’s dependence on key personnel.

The foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and uncertainties
that affect the parties’ businesses, including those described in
Wesco’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other documents filed from time to time
with the Securities and Exchange Commission. All forward-looking
statements included in this communication (including information
included or incorporated by reference herein) are based upon information
available to Wesco as of the date hereof, and Wesco undertakes no
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.